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The dollar instead of the dinar proposal


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Yota... excellent article, thanks

 

it only makes sense to me that the CBI needs to get as much of the Dinar off the street before an RV.

 

By paying people in Dollars for one month, that could suck up a lot of remaining Dinars off the street.

 

Otherwise they would end up making a large part of he population rich overnight with an RV.

 

And in an impoverished nation like Iraq, where it seems like everybody hates everybody else, the sudden wealth of

 

a large percentage of the population could be very destabilizing. Think of this way... if the average family has 100,000 dinars tucked into their

 

mattress, and the RV goes to 1:1, that family now has $100,000 dollars (equivalent) in Dinars.  I can see a significant amount of that money

 

going towards all the wrong things...like terrorism.

 

The CBI is going to have a hard enough time paying out on an RV to all the people OUTSIDE of Iraq that hold Dinars.

 

Like Adam Montana, I expect a smaller RV combined with the introduction of the new lower denomination bills, and perhaps some coins.

 

It may even be a fixed price RV for a time, with limits on how much outsides can cash in over time.

 

IMHO

 

yak

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hopefully this is a step needed to pull in dinar but just an observation all the us currency is so crisp, now either the pictures are dated or they keep introducing crisp hundies to the citizens which by the way what pay scale are they on is the minimum wage a crisp Benjamin.

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    The one nagging thought in the back of my mind is.....if they want to get the dinar off the streets,and dollarize the country before they can RV,don't they know that people in Iraq have access to the internet like everyone else in the world and they are privy to the same info and dinar sites we are,and aren't gonna lose out on getting rich either?  If I was an Iraqi and was aware of what's going on like we are on these sites, I'd let all my family and friends know what's going to happen and hold onto my dinar too. 

   i'm open to any opposing theories that would suggest the success of this investment....

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The one nagging thought in the back of my mind is.....if they want to get the dinar off the streets,and dollarize the country before they can RV,don't they know that people in Iraq have access to the internet like everyone else in the world and they are privy to the same info and dinar sites we are,and aren't gonna lose out on getting rich either?  If I was an Iraqi and was aware of what's going on like we are on these sites, I'd let all my family and friends know what's going to happen and hold onto my dinar too. 

   i'm open t theories that would suggest the success of this investment....

I'm not sure that everyone has access like we do. Most are more poor than dirt. (I think)

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    The one nagging thought in the back of my mind is.....if they want to get the dinar off the streets,and dollarize the country before they can RV,don't they know that people in Iraq have access to the internet like everyone else in the world and they are privy to the same info and dinar sites we are,and aren't gonna lose out on getting rich either?  If I was an Iraqi and was aware of what's going on like we are on these sites, I'd let all my family and friends know what's going to happen and hold onto my dinar too. 

   i'm open to any opposing theories that would suggest the success of this investment....

climber7: I agree with Tripphood on this. Most average Iraqis don't have a clue what is going on. In fact the lack of info may be showing up in the form of demonstrations. The Iraqi people may be

getting duped by the CBI & the central gov. that their currency is worthless, and better to use the Dollar for now. Then the CBI does the RV...raises the value of the Dinar above the dollar which

encourages the people to start using the now stronger Dinar.

 

I see a bit of a shell game going on. It seems unfair to the Iraqi people, but when have the powers that be ever been fair ?

 

yak

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there is no way for them to rv 80 trillion dinars .. they have to dollarize .. rv ... de- dollarize ..

Dontlop, I need to understand what you mean by de-dollarize? Do you believe an Iraqi is going to pay 1275 current dinar for a dollar  then buy dinar back at a lower exchange rate!!! I wouldnt do that , Dont think you would either.. Not logical

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Baghdad (news) .. Warned an expert in financial matters on behalf of Hadi al-Tamimi, the application of the proposal of the Finance Committee representative to distribute the salaries of employees in hard currency rather than the Iraqi dinar, because it would harm the national economy does not help to raise the exchange rate of the dinar against the dollar. said Tamimi (of the Agency news): The proposal made ​​by the one of the members of the Finance Committee to distribute salaries of state employees in dollars, would hurt the country in terms of its impact on the size of the Central Reserve of hard currency, and the failure of the owners of money and traders from getting on the dollar for the purpose of import. added: The number of employees is too large will make a significant inflation in the market and an imbalance in the balance supply and demand for the currency, and this will affect the value of the national currency as well, stressing the importance of the continuation of the central bank Bmzadeh public for the sale of hard currency with the control of other processes that take place from some outlets, especially in banks. This has provided one of the members of the Finance Committee proposal to his committee parliamentary spend In agreement with the Central Bank and Ministry of Finance on the distribution of salaries of all state employees in hard currency (dollar) for one month to finish the 'exploitation' of private banks and banking companies to citizens. The dollar rose against the Iraqi dinar and margin for the official exchange rate announced by the Central Bank of Iraq up to 10 thousand dinars Per $ 100 against the Iraqi dinar. / End / 8. n. r /

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Bourse announces significantly reduced the value of trading for the month of April by 164 billion dinars
Alsumaria News - 05/11/2013 - 12:06 pm | Hits: 17

 


Alsumaria News / Baghdad
announced Iraqi market for securities, Saturday, a substantial decline in the value of trading for the month of April and by 164 billion dinars to reach more than 68 billion dinars. and traded market during the last April 44 billion and 124 million shares, valued at 68 billion and 409 million dinars , compared to last March, which totaled traded the 101 billion shares, valued at 232 billion dinars, while the number of companies traded 65 companies out of 73 listed electronically in the market. and record production company and marketing of meat more companies rise in value traded, followed by Light Industries Company , while the more companies drop Karbala hotel followed by the Middle East for the fish, and reached the contracts traded, investors in the market for the month of April 9434 contract, down from last March, which amounted to a contract 11 thousand 659 contracts. 's share of traded shares purchase by non-Iraqi investors for the month Last April, three billion and 254 million shares valued at six billion and 610 million dinars, while the shares traded selling three billion and 73 million shares valued at seven billion and 905 million dinars, through the implementation of 955 contract for the purchase and 449 contract for the sale of contracts executed. participated market in April in The training program sponsored by the U.S. Securities SEC for the exchange of experiences and workshops on topics trading insiders and control procedures mediator and stock investors and settlement procedures and encourage the building of capital and monitor the performance of investment funds. noteworthy that the Iraqi market for securities was established in June 2004, and was approved by the manual trading, and in April 2009 adopted electronic trading in part by some companies, and now trading electronically registered companies the year 2010, and traded in the market 73 companies belonging to the eight sectors are banking, industrial, hotel, agricultural, investment, insurance, services and communications.

 

http://www.alrafedain.net/index.php?show=news&action=article&id=100131

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For the past ten years, in hearing all the various theories and possibilties, even declarations that it has already happened, I have learned one thing. Nobody knows anything. Maybe, what we should have invested in 10 years ago was Twinkies. They are still as fresh as they were back then (we don't want to know what is in them). Storage is a problem, however, although I think you can press them down to the thickness of a sheet of paper and they will spring right back. Walkem, no this would not mean that the Twinkies Lopped.

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http://dinarvets.com/forums/index.php?/topic/148468-cbi-achieves-the-highest-reserves-of-hard-currency-in-its-history/

 

related thread



The parliamentary Governor adds financial centre to discuss the repercussions of the exchange rate
may 2013 12: 15

 

Baghdad/sourcing Centre for the Iraqi media network (IMN)-add the parliamentary Finance Committee, next Sunday, the Governor of the Central Bank agency to discuss the ramifications of rising exchange rate and identify its causes.

Secretary of Committee member, said Hadi, (IMN) said the Finance Committee would add Agency Central Bank Governor Abdel Basset Turki, next Sunday, to determine the causes of the high exchange rate compared to the past few months which has seen stable. "

 

Hadi said that "preliminary indications for the reasons that led to the rise of the dollar against the Iraqi dinar goes back to the lack of access to hard currency and some private banks control a large amount of that currency.

 

Hadi said that "the solution to the problem of the high rate of Exchange is the adoption of the Central Bank to ensure the spread of hard currency in all regions to be available and therefore no private banks and raise their value against the Iraqi dinar".

 

 

Saw the dinar exchange rate against the US dollar decline over the past few days, with the dollar rising against the dinar reached more than having been stable on 1127 1120.

 

Fact-finding Commission threatened facts representative sales the CBI last month by recourse to competent international fight against money laundering to track down money in the Development Fund for Iraq since 2003 until 2012 if the CBI gives the Commission full information.

http://www.microsofttranslator.com/BV.aspx?ref=IE8Activity&a=http%3A%2F%2Fcenter-imn.com%2Findex.php%3Foption%3Dcom_content%26view%3Darticle%26id%3D4086%3A2013-05-09-09-15-19%26catid%3D94%26Itemid%3D602
--

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climber7: I agree with Tripphood on this. Most average Iraqis don't have a clue what is going on. In fact the lack of info may be showing up in the form of demonstrations. The Iraqi people may be

getting duped by the CBI & the central gov. that their currency is worthless, and better to use the Dollar for now. Then the CBI does the RV...raises the value of the Dinar above the dollar which

encourages the people to start using the now stronger Dinar.

 

I see a bit of a shell game going on. It seems unfair to the Iraqi people, but when have the powers that be ever been fair ?

 

yak

 

Yak, the Iraqi people may not have get the flood of cash that we hope to see, but they will benefit from international investment, building of infrasturcture, new business, a burgeoning economy, at some point soon a stable government, and national and sovereign dignity.  They will have jobs and housing, fresh food, toads, new business development, clean water and cars that don't blow up on cue.  A country with jobs and success will not allow the Al Qaeda to overtake their country and kill their people, nor will they allow a dictator to take over Iraq again.

 

My point being, the Iraqis will not be left in a pile of sand with the same situation they have now.  I understand what you are saying, but there are some things that will grow from this, and others that money cannot buy.The Powers That Be certainly do what they want, when they want, and for how long they want, but a poor, disparate country is not helpful to anyone other than a dictator.

Edited by Markinsa
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Well it makes no difference . I'm gonna sit and wait for my Adam to text me and tell me this ride is over. Until then I'm enjoying the ride as bumpy as it has been. Thanks, Yota. :twocents::shrug:

10 years on this bumpy ride has left me in need of a NEW kidney belt . . . :surgeon:

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Well if they give the dinar a value equal to the dollar, better yet better than the dollar, then this would not be a problem.   Introduce the new denoms and they would also take care of counterfeiting.   They are constantly juggling the dinar to keep it a low value.   We know good and well it should not take much.  Every time the value becomes viable then a stunt is pulled by the GOI and the country becomes unstable and unfavorable to where it cost more to do business.  (examples: security for your business, escort of ceo, etc, etc)  The government has been an unfriendly entity to business.  Mainly because you have a group of folks who just must have complete control of their people, so they keep them broke.  Just my opinion.   But there were so many good articles how the dinar value kept rising when Shabibi was in the CBI, now you have the dinar value articles of doom and gloom.   The reflection of the country is on it's leaders.  The problem is there is ONE leader and he has a group of followers that hinder the progress that leads to the citizens becoming independent.  JMHO

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Remember Shabibi 

 

Well if they give the dinar a value equal to the dollar, better yet better than the dollar, then this would not be a problem.   Introduce the new denoms and they would also take care of counterfeiting.   They are constantly juggling the dinar to keep it a low value.   We know good and well it should not take much.  Every time the value becomes viable then a stunt is pulled by the GOI and the country becomes unstable and unfavorable to where it cost more to do business.  (examples: security for your business, escort of ceo, etc, etc)  The government has been an unfriendly entity to business.  Mainly because you have a group of folks who just must have complete control of their people, so they keep them broke.  Just my opinion.   But there were so many good articles how the dinar value kept rising when Shabibi was in the CBI, now you have the dinar value articles of doom and gloom.   The reflection of the country is on it's leaders.  The problem is there is ONE leader and he has a group of followers that hinder the progress that leads to the citizens becoming independent.  JMHO

Remember Shabibi had every intention of redominating the dinar.  Which realistically is pretty sound economics if it works.  Also remember this issue began while Shabs was there.  He tried to fetter it out what was money laundering banks and what was legitimate.  What I see here is more of a problem for the so called legitimate banks getting the people to come to them instead of the low lifes who take advantage by charging more than the banks in the dollar/dinar exchange.  The banks are also losing money to the money changers which we know the banks are not happy about.  So the question I ask is why they don't shut the auctions down, or play harder ball with the money changers, my thought is at this point they can't.  Perhaps Maliki as you state does not want progress to improve, to keep the people down.  They seem to know what the problem is, yet they seem reluctant to rectify it.

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Remember Shabibi 

 

Remember Shabibi had every intention of redominating the dinar.  Which realistically is pretty sound economics if it works.  Also remember this issue began while Shabs was there.  He tried to fetter it out what was money laundering banks and what was legitimate.  What I see here is more of a problem for the so called legitimate banks getting the people to come to them instead of the low lifes who take advantage by charging more than the banks in the dollar/dinar exchange.  The banks are also losing money to the money changers which we know the banks are not happy about.  So the question I ask is why they don't shut the auctions down, or play harder ball with the money changers, my thought is at this point they can't.  Perhaps Maliki as you state does not want progress to improve, to keep the people down.  They seem to know what the problem is, yet they seem reluctant to rectify it.

 

:twothumbs: Good Post Ziggie Thank You For Your Thoughts.

 

You Too Uncirculd :)

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